SEOUL, April 23 (Korea Bizwire) – In celebration of Earth Day, retailers and other South Korean firms joined efforts on Thursday to save the environment. Homeplus Co., a hypermarket chain operator, has vowed to introduce eco-friendly materials that replace plastic materials used for its private-label (PB) products. It also released label-free bottled water. The shopping [...]
SEOUL, April 6 (Korea Bizwire) — South Korean companies pointed to the difficulty in securing professionals as the biggest hurdle preventing them from adopting artificial intelligence (AI), a local think tank said Monday. The state-run Korea Institute for Industrial Economics and Trade recently conducted a survey of 283 companies, with 53 percent of them choosing [...]
SEOUL, Feb. 26 (Korea Bizwire) — Among ESG (environmental, social and governance) initiatives, which have recently emerged as a central theme for the business community, the environment, particularly the response to climate change and carbon emissions, is often given top priority, a Seoul-based business lobby group said Thursday. The Federation of Korean Industries (FKI) conducted [...]
SEOUL, Jan. 7 (Korea Bizwire) — South Korean firms, anchored by Samsung Electronics Co. and LG Electronics Inc., will focus on showcasing new innovations that can make people’s lives better in the new normal era of the pandemic at the upcoming global tech expo, industry insiders said Thursday, as they prepare for online exhibition to [...]
SEOUL, Dec. 14 (Korea Bizwire) — South Korean companies saw their combined sales inch up in 2019 but their operating profits tumble amid a trade spat between the United States and China, as well as weak demand for semiconductors, government data showed Monday. The combined sales of 752,675 companies reached 4,987 trillion won (US$4.52 trillion) [...]
SEOUL, Dec. 9 (Korea Bizwire) — Major South Korean companies’ spending on research and development (R&D) rose nearly 2 percent in the first three quarters of the year despite weaker sales amid the coronavirus pandemic, a corporate tracker said Wednesday. R&D expenditures by 217 large companies in Asia’s fourth-largest economy totaled 40.2 trillion won (US$37 [...]
SEOUL, Nov. 25 (Korea Bizwire) — Large companies in South Korea sharply increased their cash reserves over the past year amid increased uncertainty due to the coronavirus pandemic, a corporate tracker said Wednesday. The cumulative free cash flow of 259 listed firms came to 28.1 trillion won (US$25.3 billion) as of the end of September, [...]
SEOUL, Nov. 23 (Korea Bizwire) — South Korean firms are again beefing up their virus prevention measures after the country decided to enforce enhanced social distancing rules in the greater Seoul area over a resurgence of the novel coronavirus, industry insiders said Monday. Health authorities will start implementing the Level 2 distancing scheme, the third [...]
SEOUL, Sept. 21 (Korea Bizwire) — An increasing number of South Korean companies are looking into the feasibility of generating offshore wind power as a new source of income. SK E&S Co., a leading South Korean gas provider which recently contracted a 200 megawatts (MW) offshore solar power generation project in the waters near the [...]
SEOUL, Sept. 16 (Korea Bizwire) — Automobiles worth more than 100 million won (US$84,745) are registered under corporate names more than private individuals, recent data has revealed. The Ministry of Land, Infrastructure and Transport reported that 51 percent of high-end cars that cost between 100-400 million won were registered as corporate assets as of May, [...]